Greek Tragedy: There has been much publicity as of late, particularly among the financial community, about the fiscal problems in Greece. The Greek government has spent far more money than it has taken in and done it for enough years that they now have a huge deficit and an even bigger debt. There are fears that Spain, Portugal, Italy, and Ireland could be next. Stock markets around the world lurched downward out of fear that these systemic debts and deficits may not be able to be repaid and that these countries may need to default on their debt.

But they are not alone. Here are the current year deficits (2010) and outstanding national debt as a percentage of that country’s Gross Domestic Product (GDP) for Greece, the largest European countries and the U.S.:

Country

Deficit as % of GDP

Public Debt as % of GDP

Americans for Prosperity of California, part of the national grassroots taxpayer advocacy organization, issued its own statement about the Governor’s revised budget today, which I have posted below. One of the key budget points for taxpayer protection groups is the Governor’s commitment to cutting spending.

As noted in the press release below, Democrats are simply returning to an already-dry well by demanding more and higher taxes. This is a short-sighted plan that will only serve to worsen California’s dwindling tax base. It may seem like inverse logic to Democrats, but cutting taxes in the short-term will actually lead to increased tax revenue in the long-term as businesses and taxpayers thrive and the tax base grows.

Today the California State Assembly debated SJR 9, authored by Democrat State Senatoe Christine Kehoe, which would urge the Congress and the President of the United States to adopt the Military Readiness Enhancement Act of 2009 (H.R. 1283) that institutes a policy of nondiscrimination based on sexual orientation, and to repeal the "Don’t Ask, Don’t Tell" policy.

You can read the full resolution here.

Republican Assemblyman Nathan Fletcher, a Marine Corps Veteran, gave a passionate floor speech in support of ending this policy, saying that one should be able to serve openly in the military regardless of their sexual orientation.

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As I read this article in the Los Angeles Times, it caused me to want to renew my call for Insurance Commissioner Steve Poizner to stop his pursuit of trying to force Insurance Companies to divest from investments that he does not like, which is what is going on here. The United States government has an official process whereby, if for national security reasons, they feel the extraordinary step of suspending the property rights of Americans to invest their money where they see fit, needs to be suspended in any way.

Steve Poizner doesn’t like that some insurance companies have some investments with companies that do some business in Iran. I don’t like it either — those companies ought to make new choices. Poizner should do two things — he should ask (and probably NOT on Department of Insurance letterhead) companies to change their investments, and he can write his Congressman and Senator, like the rest of us.

In the… Read More

This just in from Ana Matosantos, Governor Schwarzenegger’s Director of Finance… This afternoon, Governor Schwarzenegger sends the revised version of his January budget proposal – the “May Revision” – to the Legislature. And while a budget should be a reflection of what Californians value the most – and a budget that safeguards its most important services and its most vulnerable citizens – that won’t be the case today, and the Governor will spell out clearly why that is.

What’s changed since January? Much that’s not positive. The recession’s lingering effects mean our overall revenues are below forecast. Program costs have increased and federal judges have blocked the state from implementing budget-saving measures that the Governor proposed and the Legislature approved. Because the budgetary solutions adopted in the Special… Read More

Well, the San Francisco Chronicle’s Ace Reporter Carla "Scoop" Marinucci reports that Steve Poizner’s campaign is launching a new ad for the San Francisco Bay Area. This is notable because up until now, Poizner has had no broadcast ads up in that entire area of the state.

Below is the new ad…

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Here is a series of trivia questions for you. All with the same answer.

In the 1994 Republican landslide who was the only incumbent Republican west of the Mississippi to lose in November?

Who has lost Republican primaries to Congressman Howard Buck McKeon, former Senator Pete Knight, former Assemblywoman Sharon Runner and Assemblywoman Jean Fuller?

Who has lost general elections for the State Assembly to Larry Chimbole and for the State Senate to Congressman Jim Costa?

Who has run for office claiming residence (and family roots) in Victorville, Lancaster, Tehachapi, Bakersfield, Phelan, and Hanford?

Who has no problem using endorsements from four years ago like they were just secured earlier in the day?

Who is it that can get Lt. Governor Abel Maldonado and Senator Sam Aanestad to agree that a political new comer would be better in the general election than a man that has served in the Legislature for close to two decades?

Who’s primary opponent for the State Senate has secured endorsements from the following State Senators? Lieutenant Governor Abel Maldonado Senate Republican Leader Dennis Hollingworth… Read More

I am going to go out on a limb — and figure that former Governor Pete Wilson does not poll well among Spanish-speaking Californians. I could be wrong, but I think that a new Spanish-language radio ad released this morning by the Poizner for Governor campaign bears out my theory.

The ad actually replays the message from Governor Wilson in a recent Whitman ad…

What I found to be most interesting is the candor of Poizner, telling listeners that he supports the Arizona law…

Here is the translation — and if you want to hear the ad "en espanol" — it is below…

Translation for “Hablando Claro/Tell It Straight”: Narrator:

Don’t you hate it when politicians say one thing to one group and something else to another? That’s what Meg Whitman is doing. Here is the radio spot that she… Read More